September 15, 2011 |
Wal-Mart Stores Inc. on Wednesday announced a multibillion-dollar women's initiative, three months after winning dismissal of a sexual-discrimination case from the U.S. Supreme Court. The plan includes buying $20 billion of products from businesses owned by American women in the next five years and training to sharpen the skills of 60,000 women working in factories that supply products to Wal-Mart and other merchants. And it plans to teach life skills - from punctuality to financial literacy - to 200,000 women overseas and to 200,000 low-income women in the United States.
August 17, 2011 |
NEW YORK - Consumers might not be confident, but the stores that sell to them certainly seem to be. Wal-Mart and Home Depot, two of the nation's largest retailers and bellwethers of the U.S. economy, on Tuesday joined a string of other merchants that have raised their outlooks for the year despite a flow of bad economic news that suggests they have no reason to be optimistic. TJX Cos., which owns TJ Maxx and Marshall's; Macy's Inc.; Kohl's Corp.; and Nordstrom Inc. have all boosted their profit outlooks in the last week.
June 22, 2011
By throwing out the largest employment discrimination case in U.S. history, a gender-bias complaint against retail giant Wal-Mart, the Supreme Court has set a daunting precedent for future class-action suits against large corporations. The court appeared to be technically correct in ruling Monday that the claims of nearly 1.5 million women, who cited statistical evidence of lower wages and fewer promotions, could not be consolidated against Wal-Mart. All nine justices agreed that the class-action rules under which the case went forward didn't apply to monetary claims.
June 21, 2011 |
WASHINGTON - The Supreme Court blocked the largest sex-discrimination lawsuit in U.S. history yesterday, siding with Wal-Mart and against up to 1.6 million female workers in a decision that makes it harder to mount large-scale bias claims against the nation's other huge companies, too. The justices all agreed that the lawsuit against Wal-Mart Stores Inc. could not proceed as a class action in its current form, reversing a decision by the 9th U.S. Circuit...
June 4, 2011 |
NEW YORK - Wal-Mart Stores Inc. is in a race against time to give shoppers what they want before they get comfortable going elsewhere. Customers who switched to other stores when Wal-Mart decided to ditch best-selling toothbrush brands, craft supplies, and bolts of fabric may be hard to win back. The company has taken nine months to restore thousands of grocery items, including some best-selling brands, it dumped two years ago. The idea then was to tidy up stores for the wealthier customers it had won during the recession.
May 18, 2011 |
NEW YORK - Rising gas prices are adding another obstacle to Wal-Mart Stores Inc.'s campaign to reverse a two-year U.S. sales slump. Strong overseas revenue, growth at Sam's Club, and Wal-Mart's specialty - cost-cutting - pushed the world's largest retailer's net income up 3 percent in the first quarter, beating Wall Street expectations. But business at home is still soft. In Tuesday's earnings report, Wal-Mart said it was seeing some improvements but needed more time to see whether hammering its low-price message and restocking items it had scrapped could turn around sales.
May 9, 2011 |
Thor, a 3-D flick featuring the hammer-handlin' hunk from Norse mythology by way of Marvel Comics, nailed down first place for Paramount in the weekend box office wars. Aussie actor Chris Hemsworth plays the god of thunder. Thor 's respectable gate of $66 million far outpaced last weekend's winner, Fast Five , from Universal Pictures, which grossed $32.5 million. Two wedding movies came in third and fourth: Jumping the Broom , from TriStar Pictures, pulled in $13.7 million, while Something Borrowed was close behind at $13.2 mil. Rio , an animated family film about birds, came in fifth at $8.2 million.
May 6, 2011 |
NEW YORK - Wal-Mart Stores Inc. remains atop the Fortune 500 list of America's largest companies even as it struggles to keep its U.S. customers coming in the door. The magazine derives its list based on revenue for the most recent year. It released the 2010 Fortune 500 on Thursday. ( See the full list here. ) In the eight-county Philadelphia region and northern Delaware, 13 companies made the list, topped by AmerisourceBergen Corp., a Valley Forge distributor of pharmaceutical products and services.
April 26, 2011 |
PITTSBURG, Calif. - Betty Dukes was back greeting customers last week at the Wal-Mart here, a long way in distance and circumstance from the U.S. Supreme Court, which heard her gender-discrimination case against the retail giant last month. The high court is considering whether to allow Dukes v. Wal-Mart Stores Inc. , the largest sex-discrimination suit in U.S. history, to go forward as a class action covering as many as 1.6 million current and former Wal-Mart workers. A class-action suit could result in billions of dollars in restitution for institutional bias in hiring and promotion if Dukes and her fellow plaintiffs win the case.
April 12, 2011 |
NEW YORK - Facing a decline in a key sales measure and by intensifying competition, Wal-Mart Stores Inc. on Monday began an ad campaign aimed a winning back customers who no longer trust it to save them money. The campaign promises "Low Prices. Every Day. On Everything" and features five 30-second commercials that range from an Easter egg hunt to a customer asking for a price match. "We have lost our customer confidence . . . in having the lowest price," said Duncan MacNaughton, chief merchandising officer at Wal-Mart.